Obtain Your Credit Score

Credit reports list your bill payment history, loans, current debt, and other financial information. They show where you work and live and whether you've been sued, arrested, or filed for bankruptcy.

obtain your credit score

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Credit reports help lenders decide if they'll give you credit or approve a loan. The reports also help determine what interest rate they will charge you. Employers, insurers, and rental property owners may also look at your credit report. You won't know which credit report a creditor or employer will use to check your credit.

Credit reporting agencies (CRAs) collect and maintain information for your credit reports. Each CRA manages its own records and might not have information about all your accounts. Even though there are differences between their reports, no agency is more important than the others. And the information each agency has must be accurate.

Check your credit reports regularly to make sure that your personal and financial information is accurate. It also helps to make sure nobody's opened fraudulent accounts in your name. If you find errors on your credit report, take steps to have them corrected.

Contact the CRA directly to try to resolve the issue. The CRA should tell you the reason they denied your request and explain what to do next. Often, you will only need to provide information that was missing or incorrect on your application for a free credit report.

A credit score is a number that rates your credit risk. It can help creditors determine whether to give you credit, decide the terms they offer, or the interest rate you pay. Having a high score can benefit you in many ways. It can make it easier for you to get a loan, rent an apartment, or lower your insurance rate.

Making sure your credit report is accurate ensures your credit score can be too. You can have multiple credit scores. The credit reporting agencies that maintain your credit reports do not calculate these scores. Instead, different companies or lenders who have their own credit scoring systems create them.

Your free annual credit report does not include your credit score, but you can get your credit score from several sources. Your credit card company may give it to you for free. You can also buy it from one of the three major credit reporting agencies. When you receive your score, you often get information on how you can improve it.

Placing a credit freeze allows you to restrict access to your credit report. This is important after a data breach or identity theft when someone could use your personal information to apply for new credit accounts. Most creditors look at your credit report before opening a new account. But if you've frozen your credit report, creditors can't access it, and probably won't approve fraudulent applications.

Your credit freeze will go into effect the next business day if you place it online or by phone. If you place the freeze by postal mail, it will be in effect three business days after the credit agency receives your request. A credit freeze does not expire. Unless you lift the credit freeze, it stays in effect.

If you want lenders and other companies to be able to access your credit files again, you will need to lift your credit freeze permanently or temporarily. Contact each credit reporting agency. You'll use a PIN or password to lift your credit freeze. You can lift your credit freeze as often as you need to, without penalties.

The credit reporting agency (CRA) and the information provider are liable for correcting your credit report. This includes any inaccuracies or incomplete information. The responsibility to fix any errors falls under the Fair Credit Reporting Act.

Negative information in a credit report can include public records--tax liens, judgments, bankruptcies--that provide insight into your financial status and obligations. A credit reporting company generally can report most negative information for seven years.

Information about a lawsuit or a judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer. Bankruptcies can be kept on your report for up to 10 years, and unpaid tax liens for 15 years.

A medical history report is a summary of your medical conditions. Insurance companies use these reports to decide if they will offer you insurance. You have the right to get a copy of your report from MIB, the company that manages and owns the reporting database.

Use your medical history report to detect medical ID theft. You may have experienced medical iD theft it if there is a report in your name, but you haven't applied for insurance in the last seven years. Another sign of medical ID theft is if your report includes medical conditions that you don't have.

For purposes of your free credit score1 in U.S. Bank mobile and online banking, your score is updated monthly based on the date you enroll in the service. You'll automatically receive a monthly email notification when your score has been updated.

The credit score you see in U.S. Bank mobile and online banking is a unique score derived from the VantageScore 3.0 model to help you understand your creditworthiness. The model incorporates the same data considered by the three main credit reporting companies (TransUnion, Equifax and Experian). The scores generated by these companies make up part of your credit report, which is a more comprehensive collection of information about your financial activity and credit history.

Before you apply for a new credit card, personal loan or mortgage, it's important to know your score, since it will give you insight into what products you may qualify for and what interest rates to expect.

In fact, the simple act of checking your credit score is one way you can improve your credit. If you notice a dip in your score, it may alert you to potential fraud or errors on your report. Checking your score monthly may help you catch issues early and get a head start on resolving them.

A credit score is a three-digit number, typically ranging from 300 to 850, that is the result of an analysis of your credit file. That magic number tells lenders your potential credit risk and ability to repay loans. Credit scores consider various factors, such as payment history and length of credit history, from your current and past credit accounts (more on that below).

Credit score ranges vary based on the model used (FICO versus VantageScore) and the credit bureau (Experian, Equifax and TransUnion) that pulls the score. The ratings typically include bad/poor, fair/average, good and excellent/exceptional. The rating you receive depends on the credit score you have. Below, you can check which rating you fall into, using estimates from Experian.

FICO and VantageScore credit scores have some similarities: In both, scores range from 300 to 850 and payment history is the most influential factor in determining your score. But they differ in exactly how they weight and rank several other factors.

Credit expert John Ulzheimer, formerly of FICO and Equifax, recommends checking both your FICO and VantageScore credit scores to get an accurate picture of what your lenders will see. After all, you never know which score your prospective lender is going to pull. Plus, checking your credit score is free, so you can only benefit from reviewing it.

There are many common misconceptions about what does affect your credit score. "Consumers sometimes focus on things that simply don't matter to their scores. The most common is information about your wealth," says Ulzheimer.

Other factors that don't affect your credit score include race, religion, nationality, gender, marital status, age, political affiliation, education, occupation, job title, employer, employment history, where you live or your total assets.

Your credit score is different from your credit report. A credit report is a more holistic view of your credit that shows detailed information about your credit activity and current credit situation. Credit reports detail personal information (name, address, Social Security number), credit accounts (payment history, credit limit, account balance), public records (liens, bankruptcies, foreclosures) and inquiries into your credit. The three main credit bureaus who issue reports are Experian, Equifax and TransUnion.

"Your credit scores are a proxy for the health of your credit reports," says Ulzheimer. "So if you're not going to take the time to pull and review all three of your credit reports, then at the very least you should check your credit scores."

You can check your credit score in less than five minutes by logging into your credit card issuer's site or a free credit score service and navigating to the credit score section. There will typically be a dashboard listing your score and the factors that influence it.

If you have an excellent credit score, you'll have better qualification odds for a premium credit card, such as the Chase Sapphire Reserve, one of CNBC Select's top-recommended travel rewards card, compared to someone with fair and average credit.

With the increased risk of identity theft and credit fraud, it's more important than ever to know what's happening with your credit at all times. While reviewing your full credit report throughout the year is a great way to stay on top of your credit, your financial information needs all the protection you can give it.

With a credit monitoring service you can trust, not only will you be able to receive your credit reports and scores easily, you will also be notified if any suspicious or unauthorized activity occurs on your credit report.

With SmartCredit, our goal is to provide you with a simple platform for your money and credit all in one place, and with innovative tools to help you rest assured that your credit accounts are being monitored 24/7.

Your credit score is one of the most valuable financial tools you have in life. With SmartCredit's credit monitoring services, you can insure yourself against identity theft and track not only your credit reports, but your daily credit and financial transactions as well. 041b061a72